We initially contacted Serena Greening- Bank of America on May 18 about refinancing our condo, and she told us she had a loan available for us at a 4% interest rate.
A few days later she said the rate had gone up to 4.25 and suggested that we float it.
Every headline I read suggested that rates were on their way up so that seemed strange to me, but I figured this was her business and she would know better.
When we had all or documents ready to submit the loan, her team didn’t respond for about a week.
When they finally sent us the loan application, the rate on the application was 4.65%.
A few days after we submitted the application we got a letter from the bank saying our rate was 5.3%, and it wasn’t locked down yet.
We called Serena hoping this was a mistake, but unfortunately it wasn’t.
Was she misleading us about the available rates for us, or does she simply not know her business? Either way, we are very disappointed about the lack of responsiveness and bad advice, and would never recommend her services.